《大行報告》匯豐研究上調騰訊音樂(TME.US)目標價至5美元 評級「持有」
匯豐研究發表報告指,騰訊音樂(TME.US)今年第三季收入優於該行及市場預期4%,主要受到有表演者推出的新碟銷售穩健,及廣告復甦推動。由於毛利率提高,公司季度的非通用會計準則(Non-GAAP)純利亦好於該行及市場預期分別16%及22%。
該行認為,公司的盈利勢頭改善及音樂訂閱收入增長穩定,料可持續至今年第四季及明年。但隨著在線音樂/社交娛樂的月活躍用戶繼續呈下降趨勢,公司的用戶指標或會保持疲弱。
匯豐研究上調騰訊音樂今年至2024年盈利預測9%至12%,美股目標價相應由4.6美元升至5美元,評級維持「持有」。
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